4-3-2 HR Metrics and Evaluations

docx

School

Bellevue University *

*We aren’t endorsed by this school

Course

645

Subject

Management

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by ChefKnowledge1435

Cost per hire calculations and notes: Overall Cost Per Hire = 20,000 + 24,000 + 50,000 + 30,000 = $124,000/85 total hires = $1,458 (rounded to the nearest dollar) Cost per Hire for each recruiting program (rounded to the nearest dollar): Applicant Tracking System costs would be determined by a percentage of usage for each source (total number of hires = 85); College Recruiting = 36/85 = 42.5% x 24000 = 10,200/36 = $283 per hire External Job Boards = 24/85 = 28.2% x 24000 = 6,768/24 = $282 Employee Referrals = 25/85 = 29.4% x 24000 = 7,056/25 = $282 Each recruiting program: Job Board = $20,000/24 hires = $833 + 282 (ATS cost) = $1,115 College Recruiting = $50,000/36 = $1,389 + 283 (ATS cost) = $1,672 Employee Referrals = $30,000/25 = $1,200 + 282 (ATS cost) = $1,482 What additional metrics are needed and how would they assist you in determining the allocation of resources? Metrics - more detailed analysis needs to be provided about each source, such as yield per college, and yield per online source (i.e. Linked In, Monster, Indeed, etc.). Quality of hire should also be a major consideration, this could be determined by formal performance evaluations or by surveys completed by the hiring manager. Another consideration is turnover/seniority. Diversity is yet another consideration and may align with organizational goals and/or Affirmative Action plans as well. These metrics should be analyzed by source to provide insight future recruitment plans. This would be considered a "lagging indicator". Other "leading indicators" could be used to provide addition insight as well, such as economic conditions, organization strategy (growth vs. decline) and supply and demand of various positions. Allocation of Resources - The data shows that the most cost efficient method of recruitment is online job boards, although the company had the least number of hires using that source. Before proceeding, the information above should be considered, especially for the "quality of hire" metric. Although College Recruitment is the most expensive recruiting method, the data might show that it produces the best employees. Conversely, online recruitment might be the least expensive, but also the most ineffective quality wise. Whatever the case, additional metrics and considerations need to be gathered prior to allocating recruitment resources for the next year.

Discover more documents: Sign up today!

Unlock a world of knowledge! Explore tailored content for a richer learning experience. Here's what you'll get:

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

4-3-2 HR Metrics and Evaluations

Related Documents